H.I.G. Capital Completes Recapitalization of Health Network One

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $45 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the recapitalization of Health Network One and its various affiliates and subsidiaries (collectively “Health Network One” or the “Company”), a leading provider of specialty benefit management services for health insurers.

Founded in 1999, Health Network One partners with health plans to optimize care across a number of specialties, including Physical, Occupational and Speech Therapy; Dermatology; Vision and Ophthalmology; Podiatry; Gastroenterology; and Urology. Through the Company’s comprehensive network of over 10,000 providers and dedicated in-house clinical expertise, Health Network One helps deliver high quality and convenient healthcare to over 5 million covered lives. In addition to helping drive medical outcomes, Health Network One’s cost-effective capitated payment solution aligns incentives with key stakeholders.

"We are excited to partner with Luis Mosquera and Health Network One’s exceptional team," said Camilo E. Horvilleur, Managing Director at H.I.G. Capital. "The Company’s track record of member and health plan growth is a testament to management’s focus on outstanding clinical quality, exceptional service, and an effective value-based care model. We will support Luis and the team to further invest in the platform, enhance the Company’s solutions and services, and accelerate growth with existing and new clients, both organically and through M&A.”

“We are enthusiastic to enter into this new chapter of growth with H.I.G. Capital,” said Luis Mosquera, CEO of Health Network One. "Over the last two decades, we have built an outstanding business model, as evidenced by our industry leading provider network and our strategic partnerships with over 20 market leading health plan partners. This partnership with H.I.G. will allow us to better serve our health plans and their members, while continuing to operate as a strategic partner to our dedicated provider network.”

About Health Network One

Health Network One and its affiliates manage specialty medical provider networks across multiple specialties, including Physical, Occupational and Speech Therapy; Dermatology; Vision and Ophthalmology; Podiatry; Gastroenterology; and Urology. Through its capitated payment solution, the Company partners with industry leading health insurance companies to proudly provide care to over 5 million members. The Company’s robust network of over 10,000 providers, allows Health Network One to deliver health insurers and their members convenient access to qualified medical specialists through a single point of contact. In addition to its comprehensive provider network, the business offers various administrative services including authorizations, claims management, and credentialing to help reduce the administrative workload. Health Network One is NCQA accredited and HITRUST certified.

The Company was founded in 1999 and has 250 dedicated employees. The Company is based in Ft. Lauderdale, Florida with offices throughout the U.S. and Puerto Rico. For more information about the Company, please visit www.healthnetworkone.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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